The Mumbai-based firm said last week it sold 1.33 percent stake in group company Tata Motors to institutional investors for Rs 1,250.69 crore. It also sold a similar stake in Tata Motors to promoter group Tata Sons for Rs 1,249.99 crore as part of portfolio restructuring.

Bulk of India's export basket comprises commodities, be it engineering goods (mostly iron ore/steel and other metals), or petroleum products, which have been hit in value terms. However, the entire export drop is not coming around on the back of fall in demand for Indian goods only, it said.